(AFD.L) African Diamonds PLC Buy/Sell

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14:45GMT 11Nov2009-African Diamond up on AK6 project update

Shares in African Diamond rise as much as 20 percent after De Beers sells its entire 71-percent stake in the AK6 Botswana diamond project to Lucara Diamonds, in a move expected to accelerate development of the mine.
FinnCap calls the announcement a crucial turning point, long awaited by African Diamonds.
"We believe that De Beers was a reluctant seller of AK6 but was forced to surrender its interest because the considerable latent capacity within its existing open pit operations in Botswana meant that it was unwilling to build a new mine at AK6 within the timeframe stipulated by the terms of the mining licence," the broker says.
To see African Diamond's statement, click on

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13:34GMT 11Nov2009-John Menzies gains after update

Shares in John Menzies gain more than 7 percent after the newspaper distribution and aviation services firm issues a trading update, with both Numis Securities and Brewin Dolphin hiking their price targets for the firm.
John Menzies says it expects full-year results will now be well above current market expectations, and that year end net debt, at current exchange rates, will continue to reduce in line with its expectations.
"The Q3 trading update was positive with further progress in both divisions and again primarily driven by self-help," says Numis in a note.
The broker moves its target price to 423 pence from 411, saying the shares are still "significantly undervalued". It repeats its "buy" rating on the stock.
Brewin Dolphin's target price moves to 478 pence from 430. It also has a "buy" recommendation on the firm.

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12:53GMT 11Nov2009-Jardine Lloyd higher after update

Shares in Jardine Lloyd Thompson gain 1.4 percent after the insurance broker issues a third-quarter trading update, with Numis Securities upgrading its rating on the stock to "buy" from "add".
The company says its performance in the three months to Sept. 30 2009 was in line with its expectations, and it remains on track to achieve its financial objectives and make further progress in 2009.
"With potential revenue and margin gains yet to fully emerge from recent investment in existing areas of strength, we are confident that the near-term earnings growth outlook remains robust," Numis says in a note.
"The development of newer revenue initiatives offers exciting longer-term prospects," it says.

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11:55GMT 11Nov2009-UK small caps gain 0.5 pct midday

The FTSE Small Cap index gains 0.5 percent in midday trade, underperforming both the blue chips and the midcaps, which rise 1.2 percent and 1.1 percent, respectively.
John Menzies tops the small cap leader board, adding more than 8 percent, after the newspaper distribution and aviation services firm says it expects full-year results will now be well above current market expectations.
Fenner climbs 4 percent after the conveyor-belt maker posts strong full-year results and says it sees improvement in its major markets as well as benefits from cost cuts and an end to destocking by customers.

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10:53GMT 11Nov2009-Zetar gains after "robust" update

Shares in Zetar gain 2.4 percent after the confectionery and snack foods group issues a trading update, which Altium Securities describes as robust, with the broker repeating its "buy" rating on the stock.
Zetar says group sales from continuing operations for the six months ended Oct. 31, 2009 increased by 6 percent to 56.8 million pounds.
"We think this represents a very robust outcome in a challenging environment, where consumers are demanding both economy lines and promotionally driven purchases," Altium says in a note.
The broker says that due to better working capital controls, in spite of the increase in revenues, net debt declined 2.2 million pounds to 28.3 million pounds year-on-year.
It says this underpins its expectation of year-end borrowings of 13.5 million pounds, which represents gearing of 32 percent.
The broker says the update underpins its FY 2010 adj. pretax profit expectation, and as a result is keeping its 275 pence target price.

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10:23GMT 11Nov2009-Corac slumps on field trial delay

Shares in British engineering company Corac Group Plc sink more than 17 percent after the company announces a further delay to the field trial of its downhole gas compressors (DGC), prompting Hoodless Brennan to downgrade its rating to "hold" from speculative "buy".
In a trading update Corac says talks are underway with a U.S. company and a Middle East-based firm regarding trials, which had previously been targeted for the fourth quarter of 2009 but is now expected to go live in the second-half of 2010.
"This news is clearly disappointing," says Hoodless Brennan in a note.
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COPYRIGHT

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LONDON, Nov 11 (Reuters) - African Diamonds PLC:

RNS Number : 3099C African Diamonds PLC 11 November 2009

AFRICAN DIAMONDS PLC

Rapid Botswana Mine Development Following De Beers' Buyout

RNS Number : 1345C African Diamonds PLC 06 November 2009

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of
existing shares to which voting rights are attached: African Diamonds PLC

2 Reason for the notification (please tick the appropriate box or boxes):
X

An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify):

3. Full name of person(s) subject to the
notification obligation: Investec Asset Management (PTY)
Ltd

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction and date on
which the threshold is crossed or 26 October 2009

reached:

6. Date on which issuer notified:
28 October 2009

7. Threshold(s) that is/are crossed or
reached: 10%

8. Notified details: A: Voting rights attached to shares

Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction

if possible using the ISIN CODE
Number Number Number Number of voting % of voting rights
of of of shares rights
Shares Voting
Rights
Direct Direct Indirect Direct Indirect
8,100,418 8,100,418 7,400,418 9.710%

B: Qualifying Financial Instruments Resulting situation after the triggering transaction

Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion rights that may be rights
Period acquired if the
instrument is
exercised/
converted.

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction

Type of financial Exercise Expiration Exercise/ Number of voting % of voting rights
instrument price date Conversion rights instrument
period refers to
Nominal Delta

Total (A+B+C)

Number of voting rights Percentage of voting rights
7,400,418 9.710%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name: David Stronach

15. Contact telephone number: 00 2721 4161855

This information is provided by RNS The company news service from the London Stock Exchange

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